Allegion PLC $ALLE Holdings Decreased by Lafayette Investments Inc.

Lafayette Investments Inc. reduced its position in shares of Allegion PLC (NYSE:ALLE) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,487 shares of the scientific and technical instruments company’s stock after selling 1,762 shares during the period. Lafayette Investments Inc.’s holdings in Allegion were worth $4,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Wayfinding Financial LLC acquired a new stake in shares of Allegion during the first quarter worth $30,000. Sound Income Strategies LLC acquired a new stake in Allegion during the second quarter worth about $32,000. Garde Capital Inc. bought a new position in Allegion in the first quarter worth about $36,000. Cary Street Partners Investment Advisory LLC lifted its holdings in Allegion by 91.7% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 299 shares of the scientific and technical instruments company’s stock worth $39,000 after acquiring an additional 143 shares during the last quarter. Finally, National Pension Service boosted its stake in Allegion by 75.0% in the first quarter. National Pension Service now owns 322 shares of the scientific and technical instruments company’s stock valued at $42,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALLE shares. Wells Fargo & Company raised their price target on Allegion from $175.00 to $185.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. The Goldman Sachs Group raised their target price on Allegion from $176.00 to $198.00 and gave the company a “buy” rating in a research note on Tuesday, September 16th. Zacks Research downgraded shares of Allegion from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Bank of America raised shares of Allegion from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $110.00 to $175.00 in a report on Tuesday, July 29th. Finally, Robert W. Baird boosted their target price on shares of Allegion from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $174.25.

Insider Activity

In other Allegion news, SVP Tracy L. Kemp sold 3,849 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $164.92, for a total value of $634,777.08. Following the completion of the sale, the senior vice president directly owned 8,773 shares of the company’s stock, valued at approximately $1,446,843.16. This represents a 30.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy P. Eckersley sold 10,810 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $164.76, for a total transaction of $1,781,055.60. Following the transaction, the senior vice president owned 30,023 shares of the company’s stock, valued at approximately $4,946,589.48. This trade represents a 26.47% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.

Allegion Price Performance

NYSE ALLE opened at $178.00 on Tuesday. Allegion PLC has a 12 month low of $116.57 and a 12 month high of $180.34. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.30 and a quick ratio of 1.64. The firm has a market capitalization of $15.28 billion, a PE ratio of 24.72, a P/E/G ratio of 3.83 and a beta of 1.07. The company’s 50 day simple moving average is $173.55 and its 200 day simple moving average is $153.63.

Allegion (NYSE:ALLE) last released its earnings results on Thursday, July 24th. The scientific and technical instruments company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.04. Allegion had a return on equity of 42.62% and a net margin of 16.15%.The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $999.10 million. During the same period in the prior year, the firm posted $1.96 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Allegion has set its FY 2025 guidance at 8.000-8.150 EPS. As a group, equities research analysts forecast that Allegion PLC will post 7.77 EPS for the current fiscal year.

Allegion Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, September 15th. Allegion’s payout ratio is presently 28.33%.

Allegion Company Profile

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door controls and systems and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors, accessories, and other.